Alex Frank, FCP euro, case study @ open commerce conference 2016

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Presented at the Open Commerce Conference on June 2829, 2016 in New York City

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  • We’re big jim collins fans
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  • Alex Frank, FCP euro, case study @ open commerce conference 2016

    1. 1. Est. 1986 2
    2. 2. Decade of double-digit top line growth $10 million in annual revenue Abundant opportunities A pile of cash A 40% growth plan The 2011 Plan
    3. 3. 40% expense increase 5% revenue growth $1 million of profit lost $750k bank line called 45 days to bankruptcy 2011 Results
    4. 4. Alex Frank VP of eCommerce at FCP Euro alex.frank@fcpeuro.com @alexfrankly
    5. 5. Growth Death Inflection We had to make a notable change to our business That change had to be different than everyone else
    6. 6. We were on a legacy white-box ERP/CMS We had stretched ourselves too thin We were disappearing into a commoditized market What we were doing wrong
    7. 7. We could not develop anything on the platform We needed a viable Rails eCommerce solution so we could quickly prototype We needed flexibility for integrations and customizations both for UX & backend logic We were on a cumbersome & inflexible platform.
    8. 8. We could not develop anything on the platform We needed a viable Rails eCommerce solution so we could quickly prototype We needed flexibility for integrations and customizations both for UX & backend logic We were on a cumbersome & inflexible platform. We immediately integrated deeply with industry data formats We developed custom features to build catalogs in mass We abandoned our white-box website and transitioned to the Spree site We Integrated With Spree
    9. 9. We were operating too many websites We were selling through too many channels The team was scattered across to many projects We were distracted
    10. 10. We were operating too many websites We were selling through too many channels The team was scattered across to many projects We were distracted We consolidated extraneous channels We put our employees on the projects that contributed the highest value We abandoned existing revenue in favor of potential performance We focused
    11. 11. There was a massive amount of competition There was clear commoditization of the products in the market Market boundaries were solidified and stable We weren’t standing out in the market
    12. 12. There was a massive amount of competition There was clear commoditization of the products in the market Market boundaries were solidified and stable We weren’t standing out in the market We observed what was causing our customers trouble We identified what the competition was afraid to offer We implemented a lifetime replacement warranty on all car parts We differentiated
    13. 13. We focused on catalog expansion & optimization We marketed our value propositions We focused on the speed and usability of our website and backend The next 2 years
    14. 14. 25% Revenue Growth Double earnings Bring our differentiator to the community Bring in experts in automation & data Focus and convert to 90% web sales The 2016 Plan
    15. 15. 95% online sales 50% growth on the website First meaningfully profitable year Hires for data & automation are building apps to monitor market and competitor trends New FCP race team 2016 Results
    16. 16. Integrate with systems that keep you nimble
    17. 17. Have the discipline to abandon distracting activities
    18. 18. Differentiate
    19. 19. Alex Frank VP of eCommerce at FCP Euro alex.frank@fcpeuro.com @alexfrankly

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